HealthNet shares plunge on lowered outlook

RussBritt

LOS ANGELES (MarketWatch) -- Shares of HealthNet Inc.
HNT, -2.87%
plunged more than 14% in early trading Tuesday after the insurer lowered its own internal outlook for fiscal 2008. As it released its second-quarter earnings, HealthNet said it now expects full-year operating earnings to come in between $2.85 and $2.95 a share, down from the company's previous forecast of $3.45 to $3.55 a share. HealthNet said it's likely to face lower-than-expected commercial membership, an increase in Medicare costs, unforeseen commercial health-care costs and higher general costs. Shares were down 12% to $24.94 in recent action.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.